Compute the selling price of 8%, 10-year bonds with a par value of $300,000 and semiannual interest payments. The annual market rate for these bonds is 10%. Use present valueTable B.1andTable B.3in Appendix B.(Round all table values to 4 decimal places, and use the rounded table values in calculations.)

Cash Flow Table Value Present Value

$300,000 par (maturity) value

$12,000 interest payment

Price of Bond